Is South Rockwood, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, South Rockwood was a Neutral Market.
Housing Prices in South Rockwood, MI
How much do homes in South Rockwood, MI cost?
Median Sold Price
$282,500
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Rockwood was $282,500 in May 2024, up 6.6% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $265K | $247K | -6.8% |
3 Bedrooms | $270K | $295K | +9.3% |
4 Bedrooms | $237.5K | $311K | +30.9% |
5+ Bedrooms | - | $264.1K | N/A |
Summary: South Rockwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 30.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Rockwood | $275K | $295K | +7.3% |
South Rockwood | $265K | $282.5K | +6.6% |
Berlin Charter Township | $279.9K | $292K | +4.3% |
Flat Rock | $305.5K | $312.9K | +2.4% |
Housing Supply in South Rockwood, MI
How many homes are available in South Rockwood, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 7 | +133.3% |
Summary: The South Rockwood real estate market had 7 homes for sale in May 2024, a 133.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 3 | 6 | +100.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Rockwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
0 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in South Rockwood in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for South Rockwood, MI
How long does it take to sell a home in South Rockwood, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 67 Days | +318.8% |
Summary: Homes in South Rockwood had an average of 67 days on market in May 2024, up by 318.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in South Rockwood; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.